Convatec Group Plc, worth watching we think

Convatec Group Plc (LSE:CTEC)

Usually, in an attempt to produce something which is more than just about numbers, we take a glance at what a company is about. Our usual sources, the corporate website and Wikipedia, generally will provide something interesting or funny. With Convatec, the company being pretty focussed on their medical product ranges, and for those with an absurd imagination, (such as myself) information about a company who specialise in “Wound and skin care, ostomy care, continence care, critical care, infusion devices” proved a step too far.

Suffice to say, they’re the real deal.

 

To go straight to the numbers, we actually quite like the current position of Convatec share price. At time of writing, they’re trading around 229p, the share “only” needing above 234p to hopefully trigger some movement toward an initial 250p. While such a movement may not sound like much, visually it’s quite useful, exceeding the long term downtrend sine 2017 and better still, should it trade above 250p, our long term secondary of 277p becomes a valid ambition.

Curiously, we increasingly find ourselves in a strange position with price movements. For instance, the scenario above is thanks to share price history AC (After Covid) but if we opt to review the big picture potentials BC (Before Covid), a quite different scenario is presented, one where we’d typically view the share as heading to 300p with secondary, if bettered, a longer term 365p. It’s possible insufficient time has gone by to allow us to understand which model the market is working to. When the near universal ‘Pandemic Drop’ occurred in March 2020, does this represent a point in time at which the market has opted to start again in calculating price movements. Or will it be the case, once AC movements become exhausted, shall Big Picture influences take over?

 

Regardless, we suspect Convatec shall prove worth keeping an eye on, in the weeks ahead. The price needs below Red (174 currently) to cause a panic.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:48:59PM BRENT 102.65 Shambles
9:50:50PM GOLD 1734.7 1711 1707 1696 1722 1737 1741 1745 1730 Success
9:52:59PM FTSE 7382.38
9:54:58PM STOX50 3629.6 ‘cess
10:02:14PM GERMANY 13236.99 ‘cess
10:08:35PM US500 4017.07 Success
10:10:30PM DOW 32176 Success
10:12:53PM NASDAQ 12553 12363 12238 12095 12474 12665 12685 12896 12513 Success
10:14:48PM JAPAN 28007 Success
27/07/2022 FTSE Closed at 7348 points. Change of 0.57%. Total value traded through LSE was: £ 7,240,157,901 a change of 9.37%
26/07/2022 FTSE Closed at 7306 points. Change of 0%. Total value traded through LSE was: £ 6,619,636,706 a change of 9.19%
25/07/2022 FTSE Closed at 7306 points. Change of 0.41%. Total value traded through LSE was: £ 6,062,435,734 a change of 37.23%
22/07/2022 FTSE Closed at 7276 points. Change of 0.08%. Total value traded through LSE was: £ 4,417,687,866 a change of -18.83%
21/07/2022 FTSE Closed at 7270 points. Change of 0.08%. Total value traded through LSE was: £ 5,442,605,910 a change of -14.07%
20/07/2022 FTSE Closed at 7264 points. Change of -0.44%. Total value traded through LSE was: £ 6,333,828,189 a change of 35.6%
19/07/2022 FTSE Closed at 7296 points. Change of 1.01%. Total value traded through LSE was: £ 4,670,793,885 a change of -13.24%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:BBY BALFOUR BEATTY** **LSE:DGE Diageo** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:IQE IQE** **LSE:LLOY Lloyds Grp.** **LSE:NWG Natwest** **LSE:PMG Parkmead** **

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Updated charts published on : Aston Martin, Asos, BALFOUR BEATTY, Diageo, Glencore Xstra, British Airways, IQE, Lloyds Grp., Natwest, Parkmead,

LSE:AML Aston Martin. Close Mid-Price: 460 Percentage Change: + 5.46% Day High: 464.4 Day Low: 433

If Aston Martin experiences continued weakness below 432, it will invariab ……..

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View Previous Aston Martin & Big Picture ***

LSE:ASC Asos. Close Mid-Price: 1035 Percentage Change: + 0.29% Day High: 1069 Day Low: 1003

Weakness on Asos below 1003 will invariably lead to 972 with secondary (if ……..

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View Previous Asos & Big Picture ***

LSE:BBY BALFOUR BEATTY. Close Mid-Price: 275.4 Percentage Change: + 1.40% Day High: 276.4 Day Low: 272.6

In the event of BALFOUR BEATTY enjoying further trades beyond 277, the sha ……..

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View Previous BALFOUR BEATTY & Big Picture ***

LSE:DGE Diageo. Close Mid-Price: 3766 Percentage Change: + 1.05% Day High: 3795 Day Low: 3728.5

Target Met. Now above 3796 expects 3812 next with secondary, if beaten, at ……..

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View Previous Diageo & Big Picture ***

LSE:GLEN Glencore Xstra. Close Mid-Price: 447 Percentage Change: + 1.87% Day High: 447.3 Day Low: 436.7

Further movement against Glencore Xstra ABOVE 448 should improve accelerat ……..

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View Previous Glencore Xstra & Big Picture ***

LSE:IAG British Airways. Close Mid-Price: 119.06 Percentage Change: + 5.21% Day High: 119.82 Day Low: 113.18

Above^ 120 continues pointing at 131 next. If bettered, our longer term se ……..

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View Previous British Airways & Big Picture ***

LSE:IQE IQE. Close Mid-Price: 42.9 Percentage Change: + 6.58% Day High: 43 Day Low: 40.3

Target Met. Now above 43 suggests 50p next with secondary, if bettered, a ……..

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View Previous IQE & Big Picture ***

LSE:LLOY Lloyds Grp.. Close Mid-Price: 45.32 Percentage Change: + 4.11% Day High: 45.9 Day Low: 44.8

Further movement against Lloyds Grp. ABOVE 45.9 should improve acceleratio ……..

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View Previous Lloyds Grp. & Big Picture ***

LSE:NWG Natwest. Close Mid-Price: 233.5 Percentage Change: + 1.79% Day High: 237 Day Low: 231.8

All Natwest needs are mid-price trades ABOVE 237 to improve acceleration ……..

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View Previous Natwest & Big Picture ***

LSE:PMG Parkmead. Close Mid-Price: 65.1 Percentage Change: + 6.55% Day High: 66 Day Low: 60.4

Target met. Further movement against Parkmead ABOVE 66 should improve acc ……..

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View Previous Parkmead & Big Picture ***

*** End of “Updated Today” comments on shares.

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